After Delays, Esma Publishes Double Volume Cap Data
European regulator sends a message to the market that Mifid II will be enforced with this data release, experts say.
The European Securities and Markets Authority (Esma) published the data on March 7, giving national regulators two days to ensure that those stocks that breached pre-set limits have waivers to trade off-exchange restricted.
Under the DVC, the thresholds are breached if more than 4 percent of trading in a name takes place on a single venue, or if more than 8 percent of trading takes place on dark, or anonymous venues. The rules have been put in place, Esma says, to protect price formation.
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